149,506 Shares in Brookfield Renewable Corporation $BEPC Bought by Kirtland Hills Capital Management LLC

Key Points

• Kirtland Hills Capital Management acquired 149,506 Brookfield Renewable shares worth approximately $6.4 million, making BEPC its ninth-largest holding and representing 1.8% of its portfolio.
• BEPC shares opened at $33.32, near the lower end of their 52-week range, while institutional investors collectively owned 75.12% of the company.
• Brookfield Renewable declared a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 payout and a 4.7% yield. Analysts maintained a cautious outlook, with a consensus “Reduce” rating and a $39 average price target.

Kirtland Hills Capital Management LLC bought a new stake in shares of Brookfield Renewable Corporation (NYSE:BEPC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 149,506 shares of the company's stock, valued at approximately $6,367,000. Brookfield Renewable makes up 1.8% of Kirtland Hills Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Kirtland Hills Capital Management LLC owned about 0.10% of Brookfield Renewable at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Swiss Life Asset Management Ltd increased its position in Brookfield Renewable by 1.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company's stock worth $656,000 after buying an additional 246 shares in the last quarter. Syon Capital LLC lifted its position in shares of Brookfield Renewable by 2.7% during the 4th quarter. Syon Capital LLC now owns 9,351 shares of the company's stock valued at $359,000 after buying an additional 247 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Brookfield Renewable by 1.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company's stock valued at $721,000 after buying an additional 284 shares in the last quarter. Curio Wealth LLC grew its stake in shares of Brookfield Renewable by 30.4% during the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company's stock valued at $49,000 after acquiring an additional 290 shares during the period. Finally, Comprehensive Money Management Services LLC grew its stake in shares of Brookfield Renewable by 1.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 25,675 shares of the company's stock valued at $1,023,000 after acquiring an additional 320 shares during the period. Institutional investors own 75.12% of the company's stock.

Brookfield Renewable Stock Down 0.4%

BEPC stock opened at $33.32 on Friday. The firm has a fifty day moving average price of $35.01 and a 200 day moving average price of $38.40. Brookfield Renewable Corporation has a fifty-two week low of $31.82 and a fifty-two week high of $45.18. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.392 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%.

Analyst Upgrades and Downgrades

A number of research firms have commented on BEPC. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. Finally, Barclays lifted their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $39.00.

Brookfield Renewable Profile

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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